CADIZ INC

Cadiz Inc. is a water solutions provider operating in Southern California, positioned between major water systems that serve population centers in the Southwestern United States. The company's assets include 2.5 million acre-feet of permitted water supply, 1 million acre-feet of groundwater storage capacity, 220 miles of existing, underground pipeline, and 43 miles of right-of-way entitlements for pipeline construction. Cadiz Inc. also possesses water filtration technology designed to remove contaminants from groundwater. Its customer base includes public and private water systems, government agencies, and commercial businesses. The company owns approximately 46,000 acres of land, known as the Cadiz Property, located in Southern California's Mojave Desert. This property features naturally recharging groundwater resources. The land holdings with vested water rights were established in the early 1980s, based on NASA satellite imagery identifying a desert aquifer system beneath a 2,000 square mile Southern California watershed. This aquifer system is estimated to contain 30 - 50 million acre-feet of groundwater, comparable to Lake Mead's capacity. Since the late 1980s, Cadiz Inc. has farmed at its contiguous property, Cadiz Ranch, using groundwater for irrigation. In 2008, the company entered a 99-year lease with the Arizona & California Railroad Company (ARZC) to construct the Southern Pipeline. This 43-mile water conveyance pipeline system is located within ARZC's existing railroad right-of-way, extending from the Cadiz Ranch to the Colorado River Aqueduct (CRA), a primary water source for Southern California. This pipeline facilitates water movement between the Cadiz Ranch and the CRA for off-property beneficial uses.